Scholar Rock (NASDAQ:SRRK) Coverage Initiated by Analysts at Cantor Fitzgerald

Investment analysts at Cantor Fitzgerald initiated coverage on shares of Scholar Rock (NASDAQ:SRRK - Get Free Report) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set an "overweight" rating on the stock.

Several other analysts have also weighed in on SRRK. Lifesci Capital upgraded Scholar Rock to a "strong-buy" rating in a report on Tuesday, June 3rd. Wedbush reaffirmed an "outperform" rating and set a $50.00 target price on shares of Scholar Rock in a report on Wednesday, June 18th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $42.67.

Scholar Rock Stock Performance

SRRK traded up $1.71 during trading on Thursday, reaching $42.86. 1,669,601 shares of the company were exchanged, compared to its average volume of 1,314,206. The stock has a market cap of $4.07 billion, a P/E ratio of -16.94 and a beta of 0.33. The firm has a 50 day moving average of $33.56 and a 200 day moving average of $35.13. The company has a current ratio of 10.25, a quick ratio of 10.25 and a debt-to-equity ratio of 0.16. Scholar Rock has a 52 week low of $6.76 and a 52 week high of $46.98.

Scholar Rock (NASDAQ:SRRK - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.67) EPS for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.04). During the same period in the previous year, the company posted ($0.59) earnings per share. On average, sell-side analysts forecast that Scholar Rock will post -2.42 EPS for the current fiscal year.

Insider Activity

In other Scholar Rock news, insider Akshay Vaishnaw sold 6,750 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $29.72, for a total value of $200,610.00. Following the completion of the sale, the insider owned 616,205 shares in the company, valued at approximately $18,313,612.60. This trade represents a 1.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mo Qatanani sold 24,066 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $34.44, for a total value of $828,833.04. Following the completion of the sale, the insider owned 115,495 shares of the company's stock, valued at $3,977,647.80. This represents a 17.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 87,518 shares of company stock worth $2,820,298 over the last 90 days. Company insiders own 13.30% of the company's stock.

Institutional Investors Weigh In On Scholar Rock

Several hedge funds and other institutional investors have recently made changes to their positions in SRRK. Victory Capital Management Inc. acquired a new stake in shares of Scholar Rock during the fourth quarter worth $374,000. Raymond James Financial Inc. acquired a new stake in shares of Scholar Rock in the fourth quarter valued at about $2,625,000. Swiss National Bank increased its position in Scholar Rock by 37.1% during the fourth quarter. Swiss National Bank now owns 115,400 shares of the company's stock worth $4,988,000 after buying an additional 31,200 shares during the last quarter. Corient Private Wealth LLC acquired a new position in shares of Scholar Rock in the fourth quarter valued at approximately $394,000. Finally, Cibc World Markets Corp bought a new stake in Scholar Rock during the fourth quarter worth $314,000. 91.08% of the stock is owned by institutional investors and hedge funds.

Scholar Rock Company Profile

Scholar Rock Holding Corporation, a biopharmaceutical company, focuses on the discovery, development, and delivery of medicines for the treatment of serious diseases in which signaling by protein growth factors plays a fundamental role. The company develops Apitegromab, an inhibitor of the activation of myostatin that is in Phase 3 clinical trial for the treatment of spinal muscular atrophy; and SRK-181, which has completed Phase 1 clinical trials for the treatment of cancers that are resistant to checkpoint inhibitor therapies, such as anti-PD-1 or anti-PD-L1 antibody therapies.